Delhi NCR-based ecommerce roll-up startup UpScalio on Tuesday said it has secured $15 Mn in a Pre-Series B round led by Gulf Islamic Investments (GII), a UAE-based financial services company. The round also saw participation from a consortium of lenders including Northern Arc and Unity Bank.
The startup said it plans to use the proceeds to partner with more brands, invest in hiring across its key growth functions and build out other technology and growth capabilities. This round of funding follows UpScalio’s $42.5 million round led by Presight Capital in August last year.
Founded in April 2021 by Gautam Kshatriya, Saaim Khan and Nitin Agarwal, the Gurugram-based company has built a portfolio of 13 brands across categories such as home and kitchen, furniture, lawn and gardening. The development comes at a time when the roll-up commerce space is caught up in intense competition. The thorasio-style platform is assembling a team of over 120 from various functions who have scaled successful e-commerce businesses in India.
“GII team’s global experience in ‘buy and build’ across industries will be immensely helpful as we aggregate and scale e-commerce brands. We will utilize this fundraise to partner with more brands, to invest in hiring across key growth functions, and to build out other technology and growth capabilities.”, Livemint quoted UpScalio Co-Founder and CEO Gautam Kshatriya as saying.